PULSE POINTS:

What Happened: President Donald J. Trump announced a new set of tariffs aimed at reversing globalization’s impact on the U.S. industrial sector, introducing a universal 10 percent tariff and higher tariffs on countries with their own punishing tariff and non-tariff barriers against the U.S.

Who’s Involved: The policy has garnered bipartisan support, including backing from Democrat Rep. Jared Golden and numerous industry leaders.

Where & When: The announcement was made in the United States following Trump’s recent speech on economic policy.

Key Quote: Rep. Jared Golden praised the tariff plan as “a good start to erasing our unsustainable trade deficits.”

Impact: The tariffs are expected to boost American manufacturing, protect jobs, and correct trade imbalances.

IN FULL:

President Donald J. Trump’s move to protect American businesses and workers from unfair trade has received widespread approval from various sectors, reflecting a significant shift in policy-making. Democratic Representative Jared Golden expressed his support, hailing the President’s tariff agenda as a necessary move to address economic challenges posed by globalization. Golden said President Trump’s tariffs align with proposals in the BUILT USA Act, underscoring the urgency of tackling trade imbalances and protecting American jobs.

The policy has also resonated with industry leaders. Zach Mottl, Chairman of the Coalition for a Prosperous America, said the Trump tariffs are “a game-changing shift that prioritizes American manufacturing, protects working-class jobs, and safeguards our economic security from adversaries like China.”

Philip K. Bell, President of the Steel Manufacturers Association, said Trump’s tariffs “have already started creating American jobs and bolstering the domestic steel industry.” He cited recent investments, including Hyundai Steel’s new plant in Louisiana, as evidence of the policy’s potential.

Scott Paul, President of the Alliance for American Manufacturing, said America’s “hardworking men and women have seen unfair trade cut the ground from beneath their feet for decades,” calling Trump’s tariffs a “necessary step.”

Analysts indicate that correcting trade disparities and strengthening domestic production could redefine America’s role in the global market. Supporters argue that the tariffs will ultimately lead to fairer trade deals and bolster the American workforce.

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